Initially, GMCR's stock dropped more than 2% during Einhorn's presentation today. It's now trading up more than 3%.

"We think GMCR capex remains inexplicable," Einhorn said.

The hedge fund manager then shifted his presentation to General Motors, which he's long. The stock was last up more than 1.4%.

He said that GM emerged from bankruptcy as a much healthier company.

What's more is Einhorn said that GM should buy back the government stake. The government own 500 million shares, he noted. At $30 per share this stake can be purchased for $15 billion, which they can easily afford, he explained.

Einhorn added that GM has a lot of upside in consensus earning estimates.

His next investment idea was Cigna, which isn't a new idea for him. The stock was last up 1.5%.

Overall, he said he likes HMOs and sees healthcare as a growing part of the economy.

As for Cigna in particular, he said that it's a "higher quality" business in the HMO group.

"It trades at a low value at less than 8x next year's estimates," he explained.

Finally, he recommended shorting Chipotle. This stock was last down more than 5.7%.

He pointed out that the biggest challenge Chipotle faces is competing with a resurgence in Taco Bell, which has a much lower price point.

Einhorn explained how the Doritos Locos Tacos have been a huge success. He said this gave Taco Bell strong momentum and that was before the Cantina Bell launch.

He did not offer an Herbalife thesis today noting how the stock tanked after he asked a few questions on a conference call earlier this year. Herbalife's stock was last up about $2, or 3.98%.